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Market Harborough Building Society Mortgage - Accident, Sickness and Unemployment Policy (ASU)

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I have my mortgage with Market Harborough Building Society (MHBS). It is a joint mortgage, with my wife. I have an Accident, Sickness and Unemployment (ASU) policy on me only.


I wrote to MHBS last week and suggested that the policy had been mis-sold. i have just received the following reply, signed by their Chief Executive.


I understand you think your ASU policy was mis-sold. Your policy commenced in XXX and was designed to ensure that the payments to your mortgage would have been maintained had you been unable to work due to accident, illness or redundancy (subject to the conditions outlined in the policy). ASU cover was not a compulsory requirement of the mortgage product that you chose.


I have reviewed the documentation completed at the time and can confirm that our representatives provided information to help you make an informed choice about ASU, but did not give advice on whether or not to commence this type of cover. The choice to have ASU was therefore your own, after consideration of the information provided and your own circumstances. I have enclosed a copy of the application you signed to commence the policy.


In view of the above I am unable to uphold your complaint. FOS blah, blah, blah


I genuinely cannot remember what was said by their representatives at the time. Is this the end of the matter or is there further action that I should take?


The ASU is of no benefit to me. Will I be able to cancel it so that I am not paying additional premiums?


All help and advice appreciated.



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Yes you can cancel it.


You can either challenge their findings and let them know the reasons you feel you were mis-sold.


Alternatively you can raise a complaint with fos but again you will have to lodge the reasons why you feel your were mis-sold with them.


In the PPI stickies you will find a thread with "Notes for Claimants"....have a read through there because there may be other reasons why you were mis-sold that you haven't thought of



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  • 3 months later...

I think you are being far too hasty. I had a mortgage with MHBS from January 1997 to July 2005. In July 1998 we received a letter:-


"You can now take advantage of our new comprehensive Accident Sickness and Unemployment insurance cover to protect your mortgage payments - currently at the lowest available cost in the United Kingdom.


At present you receive free unemployment cover and enjoy the additional accident & Insurance cover for £2.00 per £100 of monthly mortgage repayment. the Free unemployment cover will cease from September 1998.


The good news is that we can offer you a new insurance which includes Accident Sickness and Unemployment cover for just £1.50 per £100 of monthly mortgage repayment.




This will make your current repayment XXXX and the necessary adjustment will be made with effect from your august repayment. You need take no action.





George Stark

Assistant General Manager (Business Development)"


We did not have it before August 1998 and it was just added to our payments. Therefore we have pointed this out to them and have started a claim. They will no doubt say we asked for it but there is nothing in our files or mortgage application that say we wanted it at the beginning and therefore I think they are stuffed.


I can understand the hesitance if you still have a mortgage with them and like most are not exactly flush and do not want to rock the boat, but they get in more trouble if they mess you about after you have complained. They only sent you a standard kiss off letter. I have had thirty such letters over the ast year and chased everyone up and got somewhere - Ikano (Ikea card) started at 0.73p offer and are now heading for £1,000, and I get 8% from them guaranteed for their delays. Worse are M & S Money. Good job they do not run a brewery!

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